By TIOL News Service

NEW DELHI, JAN 06, 2025: THE Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry has partnered with Stride Ventures, a leading venture debt firm, to catalyze the growth of Indian startups and widen their global footprint.

Pertinently, this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support with strategic mentorship and market access.

Highlighting the macroeconomic impact of this collaboration, Joint Secretary Startup India, Sanjiv said that these efforts would certainly reinforce India's broader economic agenda to boost innovation and entrepreneurship as a stepping stone to achieve overall economic growth.

Eventually, this endeavour aligns with the Government of India's Make in India and Make for the World strategies, targeting sectors such as manufacturing, consumer, B2B, and cleantech. Following this partnership, Stride Ventures will curate dedicated programs and collaborate on engagements like the Bharat Grand Challenge to promote entrepreneurship, innovation, and investment, added Sanjiv.

Meanwhile, unfolding the blueprint of his company's perspective on this behalf, Ishpreet Singh Gandhi, Founder & Managing Partner, of Stride Ventures, said, "The collaboration with DPIIT adds new momentum to our mission of empowering entrepreneurs to 'Make in India' and create impactful, globally resonant solutions. This partnership, coupled with our billion-dollar commitment to nurturing startups, reaffirms our resolve to strengthen India's startup ecosystem. Together, we aim to unlock immense potential and deliver transformative impact at a global scale, he said.

Notably, Stride Ventures will give thrust focus on identifying startups with high growth potential, offering funding, market access, and policy support to Indian startups aiming to expand globally and global startups entering India. Startups from tier-2 and tier-3 cities will receive targeted guidance, mentorship, and access to a global mentor network to support their scaling journey. Additionally, the initiative will create awareness about diverse fundraising instruments, including venture debt, to enable startups to cherish their growth aspirations.